Community Business Bank announces that it has provided significant financing toward renovating the Olivewood Apartments, a 68-unit affordable housing project located at 2801-2811 La Quinta Drive in Sacramento County. The nearly 50-year-old complex will see renovations to exteriors and interiors, including new siding of the buildings, a modern façade, dual pane windows, bathrooms, kitchens and flooring.

The $10.3 million project is a joint venture between Pacific Development Group of Lodi and Alliance Property Group of Los Angeles, owners of Olivewood Apartments, with RDR Builders of Lodi as general contractors. Construction is in progress on the project’s first phase that once completed will also include a swimming pool and 1,750-square-foot community center that will be used to hold programs for residents of all ages.

Things have settled down it seems with regard to struggling homeowners, loan modifications that never seem to come, short sales and foreclosures. Rest assured the struggles are not over. Just because the news is not reporting to the degree they have in years past does not mean homeowners are not grappling with what to do about the plummeting values of their homes versus the higher dollar values they still owe – life underwater is a booming metropolis!

Most of the people I speak with are angry and simply tired of struggling. They are angry that not a single banking executive has been held accountable for the corruption and deceit in the collapse of the mortgage industry and they are out of options to keep the house they love.